he now teaches economics and law the university of missouri, kansas city. >> what we have is a recurrent, intensifying financial crises fraud and now it's done with almost absolute impunity. so the whole idea of noblesse oblige and such and that the rich were supposed have special respsibility, that's all gone, right? they have a god-given right to the lowest conceivable tyxes. when you put antiregulators in charge of the agencies who believe th regulation is bad and t completely unnecessary an they destroy it. creates a self-fulfilling prophecy that produces massive fraud at the most elite levels, butb worse, it all feeds into te politics. so once you get a group thatet completely dominates the economy, they're going to completely dominate politics, as well. >> there is no excuse. >> there is o excuse. >> for not prosecuting. >> for not prosecuting. >> it is an obscenity. >> it is an obscenity. >> it's surrend. >> it's surrender. >> to crony capital >>> to crony capitalism. >> what distressed me, and think it's one of the major reasons we get recurrent intensifying crises, is we seem to